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Traders who were lucky enough to buy into the latest meme stock craze early are reaping huge profits.
Unusual Whales, which tracks transaction data, Posted Twitter featured the activities of a trader who invested $27,000 in call contracts on April 24 when the option price was $0.21 per pop.
The contract amount later reached a record high of $13.63. This means a 6,400% return on investment, turning $27,000 into $2 million.
Oh my, this trader turned thousands of dollars into millions with GameStop. $GME.
this $GME The trader received 27,000 $25 call contracts expiring on May 17, 2024, at an average price of $0.21.
The highest price was $13.63.
Assuming he stayed, that’s a 6,400% return, turning $27,000 into more than $2 million. pic.twitter.com/Ogi1CX4Tks
In other posts, data platforms showed The trading moves of someone who bought $32,000 in AMC Entertainment (AMC) stock options nine days before Roaring Kitty’s Twitter account came back to life on Sunday and then exited after making a 4,000% profit.
A call contract gives the buyer the right, but not the obligation, to purchase shares at a specified price and date.
that‘It’s unclear how investors who held GME through the boom and bust of 2021 compared to new investors in the latest hype cycle. Unusual Whales did not immediately respond to a request for comment. decryption.
meme stock mania return to market After Internet Figures Inspired Monday’s 2021 GameStop Rally posted online For the first time in years. Over the past five days, GME stock is now up over 200%.
Roaring Kitty (His real name is Keith Gill.) It was helpful Fueling the 2021 Rally Through Reddit posts and live streams. On Sunday night, his first tweet in nearly three years inspired traders to buy up meme stocks and meme digital coins and tokens.
In 2021, stocks of dying companies like GameStop became popular on internet forums after amateur traders started pumping them. This led to chaos on Wall Street and government intervention after hedge funds that had been shorting the stock suddenly rose in value and suffered losses.
Cryptocurrencies were also booming at the time, with meme coins and tokens especially rising in value. They have since experienced a resurgence and some now constitute the top digital assets by market capitalization.
A virtual asset based on an internet joke and typically highly volatile emerged this week. value has soared Along with traditional stocks.
Edited by Ryan Ozawa.
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